Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1887-10-28
WHAT THE DEMOCRATIC PARTY
Has FOR IT'S STATE RECORD.

Rnce in the State Treasury at Richmond.
The teachers of the State, the charitable
institutions of the State, and the servants
of the State are all raid regularly and all
the current expenses of Virginia are met
with ease. An easy and comfortable f.
nancial situation
When the Democrats took possession of
the government again in January, 1884,
there was 81 1886, o87 in the Treasury, of
which $780, 900 had come from the sale Of
the Atlantic, Mississippi & Ohio Railroad.
This amount has been distributed this
way: A new lunatic Asylum in the South
west. $167 900; colored normal school at
Petersburg. 1858, 200, colored lunatlc asy-
lum at Petersburg, s145. 900; repairing lu-
matte asylum at Williamsburg, 1852. 900;
aid to disabled Confederate soldiers $780,
600; paying judgments obtained by Ken
dali and Flanagan for broken contracts
by the Republican Board of Public Works,
1000: for payment of arrears of in
terest due on State bonds peabody FUND.-
to Washington & Lee University, $685.
600; normal school at FarmvilIe, $4,000:
arrearages to the public schools. $575. 600,
and repairs to University of Virginia
$40 900. A jadicious and commendable
statement of disbursements.
It would be unit however, to the old
Readjuster party, to give the Republican
party the credit of the balance found in
the Treasury January 1, 1882. of the
whole balance of 1885 1887 left in the
Treasury when the Republicans went out
but $197 1854 had been accumulated by
themselves. When Auditor Allen took the
office. Jan. 1, 1882, the Democratic-Read
juster Auditor, Hon. John E. Massey,
turned over to him 1854, IA in money; the
sale of the A. M. &c o. R'y. made Feb. 10.
1881. brought $500, 900, and the sale of the
Loudoun s. Hampshire R'y brought $685.
1888. So as matter of fact the Repubi-
cans had very little to do with getting the
Treasury in good condltion-the credit
being due the old Readjuster party.
Then the Public Debt! Now and then
you will hear some uniformed men say
that the Riddleberger bill worked well
until the Democrats passed acts supple.
taking the experience of the bondholders
in funding, or the efforts of tie bond
holders in the Courts. The bondholders
would not fund under the Rlddleberger
bill, and Gov. Cameron in his message to
the Democratic legislature called atten-
ton to the fact that in the twelve months
of the operation of that bill "only six per
cent of the debt had been funded.'' The
actual amount was $2,854,0O0 of the
$23, 100000 From the 1st of January, 1884,
to the 18th of September, 1887. under
Democratic control. the creditors have
have been more disposed to surrender their
bonds under Democratic State govern
ment than under Republican one, as
shown by the funding.
The Democrats have been spending the
taxes raised, above the amount necessary
to run the government, in paying off the
State Debt under the Riddleberger bill by
buying up the Riddleberger bonds in the
market. A very wise expenditure which
lessons our debt and reduces our interest.
The present trouble of the State debt is
due to no one party more than the other;
it is wholly due to the effort of both parties
to escape debt the State is absolutely un-
able to pay. The legislation of neither
party has been acceptable to the u. S
Supreme Court and that tribunal has pro-
nounced all the acts passed looking to
evading the old Funding Bill as unconsti-
tutional. That Court sat down on both
the Republican legislature of 1872 and the
Democratic legislature of 'S4. Here is the
whole legal history in single paragraph
On Jan. IA, 1882, Republican legislature
passed the Coupon Killer No. 1, supple
mental TO the Riddleberger bill. That af-
forwards came up before the U. S.
Supreme Court in the case of Antoni Us.
Greenhow, and by vote of 5 to was
pronounced constitutional. It was then
that we all thought Virginia was out OF
the woods. On January rs, 1882, the Re-
publican legislature passed Coupon Killer |
No. 2. That also afterwards came up be-
fore the U. s. Supreme Court in the /
case of Poindexter Us. Greenhow. When |
the Supreme Court decided on Coupon |
Killer No. 2, it went back over the whole /
ground, and decided that not only was Re-
publican Coupon Killer No. 2 unconstitu-
tional, but that later Democratic supple
mental legislation of March 18th, 1884
(Which was not yet before it,, was also I'M !,
constitutional In its opinion the Court
said: Then, therefore. by the act of March
Mt
sequent act of January 26ut, 1882, and all
other like acts which deny the obligation
of that contract and forbid it's perform
ance. are not the acts of the State of Vir-
ginia.o And further: ITO coerce credi.
tors is the evident purpose of the act of
january 18th, 1882, and of March 18th,
1884, and altogether form single scheme,
etc., and the aohole legislation in all its
parts must be pronounced null and void"
So you see the Federal law tribunal turn.
ed sumnersault and knocked the legis-
lation of both parties over, and the blow
was not brought on by Democratic legisla-
ton. The remarkable change of ground
OF the Court was brought about by one
man-Justice Stanley Mathews, reversing
himself and voting with the other side.
And there you have the whole history of
gho did it and who didn't do it.
Both political parties have fought the
,reditors IN the Federal courts Under
Attorney General Blair $1,000 was paid
or other lawyers to help him, and under
General Ayers S725 has been
,aid for other lawyers to help him. The
light now being waged may also be given
n paragraph. The Constitution Of the
United States says Stats shall not i'm
pair her obligations (Sec. 10, Art. u but